Dow rose 52 to another record, advancers ahead of decliners 4-3 & NAZ went up 5. The MLP index rocketed ahead 6+ (an unusually large daily gain) to 467 for another new record & the REIT index added 2 to the 315s. Junk bond funds were year higher while the 10 Treasury eased back. Oil & gold retreated.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Photo: Bloomberg
Federal Reserve Bank of St. Louis President James Bullard said the central bank should continue its bond buying because it’s the best available option to boost growth that is slower than expected. The purchases should be maintained because financial markets indicate that they are improving financial conditions & can be adjusted based on how the economy changes. “Quantitative easing is closest to standard monetary policy, involves clear action and has been effective,” Bullard said. The panel should continue the program while “adjusting the rate of purchases appropriately in view of incoming data on both real economic performance and inflation.” The FOMC said that it is prepared to accelerate or slow the monthly purchases of $40B in mortgage securities & $45B of Treasuries in response to changes in the labor market & inflation. It also left unchanged its statement that it plans to hold its target interest rate near zero as long as unemployment remains above 6.5% & the outlook for inflation doesn’t exceed 2.5%.
Photo: Yahoo
Microsoft, a Dow stock, says the Xbox One, its next-generation entertainment console, will go on sale later this year. It's seeking to stay ahead of rivals in announcing that new content that can be downloaded for the popular "Call of Duty" game will launch first on Xbox One & more games will be shown at next month's E3 video game conference in Los Angeles. The Xbox One will also be considered a replacement for the set-top box from your cable provider with its own guide & you will be to change channels by voice command. The announcement came at a presentation at its headquarters in Redmond, Wash. The stock slipped 23¢.
Microsoft Unveils New Xbox in Bid to Lead Home Entertainment
EBay said PayPal will be available in 2M retail stores this year as it takes on the competition. PayPal has signed up RadioShack (RSH) after already being offered in 250K stores in Apr. More in-store partnerships will be announced soon. EBAY is trying to keep PayPal’s growth on track after the unit’s sales decelerated to 18% in Q1 from 32% a year earlier. By promoting a credit-card reader, PayPal is moving the payments service beyond e-mail transactions for online goods & services, & fending off rivals seeking to lure merchants that want to offer customers a way to pay via smartphones. PayPal gained 5M registered users in Q1, bringing the total to 128M. Visa (V) & Google (GOOG) are also elbowing into the $170B market for mobile payments. EBAY lost 1 today.
EBay Says PayPal to Be in 2 Million Stores This Year
Stocks keep soaring to the heavens with nothing stopping that rise. Dow is up an astounding 3.3K in less than a year with only mediocre economic news behind that rise. This sure looks like late comers are piling on, afraid to be left behind. Sounds good, but I've heard that refrain before about the sky's the limit. But that enthusiasm can not last as has been the case in the past. Meanwhile the portfolio values keep climbing.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.23% | |
U.S. 10-year |
1.94% |
| CLM13.NYM | Crude Oil Jun 13 | 95.98 |  0.73 (0.75%) |
Photo: Bloomberg
Federal Reserve Bank of St. Louis President James Bullard said the central bank should continue its bond buying because it’s the best available option to boost growth that is slower than expected. The purchases should be maintained because financial markets indicate that they are improving financial conditions & can be adjusted based on how the economy changes. “Quantitative easing is closest to standard monetary policy, involves clear action and has been effective,” Bullard said. The panel should continue the program while “adjusting the rate of purchases appropriately in view of incoming data on both real economic performance and inflation.” The FOMC said that it is prepared to accelerate or slow the monthly purchases of $40B in mortgage securities & $45B of Treasuries in response to changes in the labor market & inflation. It also left unchanged its statement that it plans to hold its target interest rate near zero as long as unemployment remains above 6.5% & the outlook for inflation doesn’t exceed 2.5%.
Photo: Yahoo
Microsoft, a Dow stock, says the Xbox One, its next-generation entertainment console, will go on sale later this year. It's seeking to stay ahead of rivals in announcing that new content that can be downloaded for the popular "Call of Duty" game will launch first on Xbox One & more games will be shown at next month's E3 video game conference in Los Angeles. The Xbox One will also be considered a replacement for the set-top box from your cable provider with its own guide & you will be to change channels by voice command. The announcement came at a presentation at its headquarters in Redmond, Wash. The stock slipped 23¢.
Microsoft Unveils New Xbox in Bid to Lead Home Entertainment
Microsoft (MSFT)
EBay said PayPal will be available in 2M retail stores this year as it takes on the competition. PayPal has signed up RadioShack (RSH) after already being offered in 250K stores in Apr. More in-store partnerships will be announced soon. EBAY is trying to keep PayPal’s growth on track after the unit’s sales decelerated to 18% in Q1 from 32% a year earlier. By promoting a credit-card reader, PayPal is moving the payments service beyond e-mail transactions for online goods & services, & fending off rivals seeking to lure merchants that want to offer customers a way to pay via smartphones. PayPal gained 5M registered users in Q1, bringing the total to 128M. Visa (V) & Google (GOOG) are also elbowing into the $170B market for mobile payments. EBAY lost 1 today.
EBay Says PayPal to Be in 2 Million Stores This Year
Stocks keep soaring to the heavens with nothing stopping that rise. Dow is up an astounding 3.3K in less than a year with only mediocre economic news behind that rise. This sure looks like late comers are piling on, afraid to be left behind. Sounds good, but I've heard that refrain before about the sky's the limit. But that enthusiasm can not last as has been the case in the past. Meanwhile the portfolio values keep climbing.
Dow Jones Industrials
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